Senior Citizen Savings Scheme Calculator
Calculate the quarterly income and maturity value of the Senior Citizen Savings Scheme. Enter your deposit to see your guaranteed quarterly payout.
SCSS allows a maximum deposit of Rs 30 lakh per person.
The current SCSS interest rate is 8.2% per annum, paid quarterly.
Quarterly Interest Payout
₹30,750
Total Interest (5 yrs)
₹6.15 L
Maturity Value
₹21.15 L
Interest received + principal
Monthly Equivalent
₹10,250
Quarterly payout / 3
Principal Returned
₹15.00 L
At end of 5 years
SCSS is for individuals aged 60 and above (55+ for some retirees). The 5-year tenure can be extended by 3 years. Interest is taxable and qualifies for TDS. The deposit qualifies for Section 80C.
What is Senior Citizen Savings Scheme?
The Senior Citizen Savings Scheme (SCSS) is a Government of India scheme for citizens aged 60 and above (55-60 in some cases such as retired defence personnel). It offers a market-leading 8.2% per annum (April-June 2026), interest paid quarterly into the depositor's account. Maximum deposit is ₹30 lakh per individual. Tenure is 5 years, extendable by another 3 years. Interest is fully taxable at slab. SCSS is one of the most reliable retirement-income instruments for senior citizens looking for predictable quarterly payouts with sovereign safety.
How to use the Senior Citizen Savings Scheme Calculator
- Enter your deposit amount. Between ₹1,000 (minimum) and ₹30 lakh (maximum per individual).
- Confirm the SCSS rate. Currently 8.2% per annum (April-June 2026).
- Tenure is 5 years. Extendable in one 3-year block at the end.
- Review quarterly payout. See your guaranteed quarterly interest amount.
- Check tax impact. Interest is fully taxable. Section 80C deduction available on deposits under the old regime.
Formula and method
SCSS pays simple-interest quarterly into the depositor's bank account - the corpus does not compound. At maturity (5 years), the principal is returned in full.
Why SCSS works for retirees
- Highest fixed rate available. 8.2% beats most senior-citizen FD rates.
- Quarterly income. Predictable cash flow every 3 months.
- Government-backed safety. Sovereign-grade security.
- Tax deduction. 80C deduction up to ₹1.5 lakh on deposits (old regime).
- ₹30 lakh per individual. Couples can deposit ₹60 lakh combined.